Currently viewing Global edition

Wheaton begins UK offensive

Wheaton Precious Metals began trading on the main market of the London Stock Exchange on Wednesday morning as the company vies to convince UK fund managers of the benefits of streaming.
Wheaton begins UK offensive Wheaton begins UK offensive Wheaton begins UK offensive Wheaton begins UK offensive Wheaton begins UK offensive

Randy Smallwood, president and CEO of Wheaton Precious Metals

Staff reporter

Wheaton's president and CEO Randy Smallwood, who was appointed chair of the World Gold Council early September, said the company's business model "offers UK investors a unique and appealing opportunity to gain exposure to precious metals through one of the highest-quality portfolios of assets in the industry".

"We believe Wheaton is the best way to invest in the sector, and we are confident in the underlying market dynamics," said Smallwood.

The LSE hailed Wheaton as "the first company of its kind" to join the LSE "offering investors with the upside associated with mining companies but with a much lower risk profile".

Wheaton will be the largest precious metals company quoted on the LSE since Randgold delisted after its merger with Barrick in 2019.

Its primary listing will remain in Toronto, where it is capitalised at C$28.2 billion. It is also listed in New York.

Wheaton's arrival in London comes as one of the UK capital's largest miners, KAZ Minerals, announced it was being taken private by Nova Resources in a deal worth £3 billion.